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222 Articles
Wakefit Cuts Losses by 90% in FY24 as Revenue and Margins Soar
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Wakefit Cuts Losses by 90% in FY24 as Revenue and Margins Soar

Wakefit Cuts Losses by 90% in FY24 as Revenue and Margins Soar Wakefit, the Bengaluru-based direct-to-consumer (D2C) furniture and mattress startup, has made...

December 19, 2024
Aye Finance Sets Stage for Public Listing with INR 1,450 Cr IPO
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Aye Finance Sets Stage for Public Listing with INR 1,450 Cr IPO

Aye Finance Sets Stage for Public Listing with INR 1,450 Cr IPO Aye Finance, a leading non-banking financial company (NBFC) that specializes in...

December 18, 2024
Swiggy Appoints Sidharth Bhakoo as Chief Business Officer – Food Marketplace
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Swiggy Appoints Sidharth Bhakoo as Chief Business Officer – Food Marketplace

Swiggy Appoints Sidharth Bhakoo as Chief Business Officer – Food Marketplace Swiggy, one of India’s leading foodtech platforms, has appointed Sidharth Bhakoo as...

December 17, 2024
Stage, a regional over-the-top (OTT) platform founded in 2019 by Shashank Vaishnav and Vinay Singhal, is all set to raise INR 84.61 Cr (approximately $9.9 million) through the issuance of preference shares. This funding will support the platform's continued growth and expansion as it focuses on creating and delivering regional entertainment content, especially in the Haryanvi and Rajasthani languages. A Significant Investment to Fuel Regional Content Creation In a filing with the Ministry of Corporate Affairs, Stage revealed that its board of directors has approved the issuance of 31,179 Series B compulsorily convertible preference shares (CCPS) at a face value of INR 10 per share. These shares will carry a premium of INR 27,127 each, which is expected to raise the total funding of INR 84.61 Cr. The investors backing this initiative include Goodwater Capital and Blume Ventures, two prominent names in the venture capital space. Goodwater Capital, a global venture capital firm with a focus on consumer-driven investments, will contribute INR 41.95 Cr, while Blume Ventures, an early-stage investment firm with a track record of supporting innovative startups in India, will invest INR 26.01 Cr. The remaining portion of the investment is expected to be raised from other institutional investors. The decision to raise this capital marks a significant milestone for Stage as it aims to strengthen its position in the competitive OTT market, which has seen rapid growth in recent years. With this funding, Stage plans to ramp up its content production and expand its reach within regional markets. A Focus on Regional Content Stage is a unique player in the OTT landscape, primarily catering to viewers who seek content in regional languages. The platform’s content focus is specifically on Haryanvi and Rajasthani languages, which are often underrepresented in mainstream OTT services. Stage aims to provide viewers with original web series, poetry, storytelling, and films that are deeply rooted in these regional cultures. This content is designed to resonate with audiences who want to engage with narratives that reflect their local identities, traditions, and languages. Since its inception, Stage has been committed to developing regional entertainment that goes beyond the typical Bollywood or mainstream offerings. The platform is building a loyal fan base by offering diverse and authentic stories that celebrate the richness of regional cultures. From unique web series to emotionally compelling storytelling, Stage has quickly carved a niche for itself in a market where there is growing demand for regional and vernacular content. Future Prospects The new infusion of capital will play a crucial role in Stage’s plans for scaling its operations. Apart from increasing its content production, the platform intends to expand its marketing and distribution channels to reach a wider audience. As OTT consumption grows in India, especially in smaller towns and rural areas where regional content has seen a surge in popularity, Stage is well-positioned to capitalize on this trend. The funding will also allow Stage to invest in technology and improve its platform's user experience. With competition from global OTT giants and local players alike, Stage’s ability to maintain high-quality content while offering a seamless streaming experience will be crucial for sustaining its growth. Additionally, Stage plans to diversify its content offerings to cater to different audience segments within the regional space. The growth of internet penetration in India, combined with the increasing number of smartphone users, has created an opportunity for platforms like Stage to cater to an untapped audience that is seeking diverse and localized content. Conclusion Stage’s decision to raise INR 84.61 Cr in Series B funding is a strategic move that will fuel its ambitions to become a leader in the regional OTT content space. With strong backing from investors like Goodwater Capital and Blume Ventures, Stage is poised to expand its content library, enhance its platform, and solidify its presence in a rapidly evolving OTT market. By focusing on Haryanvi and Rajasthani content, Stage is not just catering to niche audiences but is also helping shape the future of regional entertainment in India.
News

Stage OTT Platform to Raise INR 84.61 Cr through Series B Funding to Expand Regional Content

Stage, a regional over-the-top (OTT) platform founded in 2019 by Shashank Vaishnav and Vinay Singhal, is all set to raise INR 84.61 Cr...

December 16, 2024
Zomato Faces INR 803.4 Cr GST Demand and Penalty: Legal Battle Ahead
News

Zomato Faces INR 803.4 Cr GST Demand and Penalty: Legal Battle Ahead

Zomato Faces INR 803.4 Cr GST Demand and Penalty: Legal Battle Ahead Foodtech giant Zomato has received a significant blow with the issuance...

December 14, 2024
Bluestone's IPO: A Bold Step Towards Growth and Market Expansion
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Bluestone’s IPO: A Bold Step Towards Growth and Market Expansion

Bluestone’s IPO: A Bold Step Towards Growth and Market Expansion Bluestone, the omnichannel jewellery startup, has filed its Draft Red Herring Prospectus (DRHP)...

December 13, 2024
Innov8's Profit Surge in FY24: A Testament to Its Asset-Light Business Model and Strategic Expansion
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Innov8’s Profit Surge in FY24: A Testament to Its Asset-Light Business Model and Strategic Expansion

Innov8’s Profit Surge in FY24: A Testament to Its Asset-Light Business Model and Strategic Expansion Innov8, the coworking startup owned by OYO, has...

December 12, 2024
Wooden Street Secures INR 354 Cr in Series C Funding to Accelerate Offline Expansion and Strengthen Manufacturing Capabilities
News

Wooden Street Secures INR 354 Cr in Series C Funding to Accelerate Offline Expansion and Strengthen Manufacturing Capabilities

Wooden Street, a Jaipur-based direct-to-consumer (D2C) furniture startup, has successfully raised INR 354 Crore (approximately $43 million) in its Series C funding round....

December 11, 2024
Paytm’s Subsidiary Sells Stock Acquisition Rights in PayPay for INR 2,364 Cr to SoftBank’s Vision Fund 2
News

Paytm’s Subsidiary Sells Stock Acquisition Rights in PayPay for INR 2,364 Cr to SoftBank’s Vision Fund 2

Paytm, a leading Indian fintech company, has announced that its subsidiary, One97 Communications Singapore, has successfully sold its Stock Acquisition Rights (SARs) in...

December 10, 2024
BookMyShow Reports Strong Financial Growth in FY24 with a 27.61% Increase in Net Profit
News

BookMyShow Reports Strong Financial Growth in FY24 with a 27.61% Increase in Net Profit

BookMyShow, India’s leading online ticketing platform for movies, events, sports, and plays, has reported impressive financial results for the fiscal year 2023-24 (FY24)....

December 9, 2024

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